MARA Stock Plummets After Bold $850M Bitcoin Buying Spree Revealed
Bitcoin miner Marathon Digital (MARA) just lit a fire under its stock price—in the wrong direction. Shares cratered as the company announced plans to raise a staggering $850 million to double down on BTC acquisitions. Because nothing says 'confidence' like levering up during peak volatility.
The playbook: Print paper, buy digital
Marathon's move follows the classic crypto-miner playbook: raise cheap capital while the market's distracted, then convert it into hard assets. The twist? This time, Wall Street isn't applauding the financial engineering.
Timing is everything (except when it's not)
The announcement comes as Bitcoin struggles to reclaim its 2024 highs—proving once again that miners have a knack for buying the top. But hey, at least they're consistent.
One thing's certain: when the music stops, someone's getting left holding eight figures worth of ASICs and regret.
